Most Innovative Companies list open for nominations

The search for Australia and New Zealand's most innovative companies is on again, with nominations for the eighth annual Most Innovative Companies list to close on March 18.

The most comprehensive ranking of innovative companies across Australasia, the 2019 Financial Review BOSS Most Innovative Companies list is judged and compiled by BOSS and Australian innovation consultancy Inventium.

Many definitions of innovation exist, but for our Most Innovative Companies list it is defined broadly as "change that adds value".

John Beevers, CEO of Groundprobe, the inventor of a LIDAR-based mine movement-detection system recognised in the 2018 Most Innovative Companies awards. Attila Csaszar

Meanwhile a new survey by Ricoh of 304 executives at large Australian corporates found that while 40 per cent of them recognised their organisation needed to innovate to survive, only 25 per cent felt innovation was integral to how they currently did things.

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In 2019 our entrants won't be the only ones trying to shake up this equation. For the first time, we will focus on assessing innovation within industry categories, allowing for industry-specific metrics and a more meaningful comparison between peers. Ranking in any industry gives companies a chance to win one of 10 Top Innovation Awards.

Organisations that fit within any of the above industries that are pushing the boundaries, kicking innovation goals or want to benchmark their innovation performance against their peers are encouraged to enter.

It only takes 10 minutes to nominate - and it's free. After initial nominations are received on March 18, a shortlist of companies will be invited to progress to submitting a full application on March 25.

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Michael Bailey writes on entrepreneurship and the arts. He is also responsible for the Financial Review's Rich Lists. He is based in Sydney." Connect with Michael on Twitter. Email Michael at m.bailey@afr.com.au